government
Health plans gear up for exchanges
NEWS IN BRIEF — Posted Nov. 19, 2012
Most health insurance plans are readying themselves to participate in the Affordable Care Act’s health insurance exchanges, according to an online poll conducted by U.S. tax, audit and advisory services firm KPMG LLP.
In a poll of 130 health plan administrators, more than two-thirds said they either had taken steps that put them on track to offer a plan on an exchange in time for an open enrollment deadline of October 2013 or had developed a strategy to become ready to participate in an exchange.
In addition, 17% had researched customer opportunities to create a marketplace-specific product strategy. Just 7% had no plans to participate in a health insurance exchange. Under the ACA, the coverage marketplaces must be operational by 2014.
Plans must differentiate themselves to attract both the individual consumers and small-group employers that will seek out plans on these exchanges, Cynthia Ambres, MD, a principal and U.S. member of the KPMG Global Healthcare Center of Excellence, said in a statement. “Strategically, insurers need to decide at what level they want to go after the individual market, and how they distribute their products to as many outlets as possible, including state health benefit exchanges, a federally facilitated exchange, private exchanges and direct commerce sites.”
Note: This item originally appeared at http://www.ama-assn.org/amednews/2012/11/19/gvbf1119.htm.
